$ROBO Last week, it went from about $0.06233 → $0.03947, which is approximately a 37% correction.
The long upper wick of the weekly candle and the launch-week volume of 1.29B indicate that sellers were already ready above and interest has gradually decreased.
After three consecutive red candles on the daily, a meaningful green appeared on March 8, but the price couldn't close above $0.04500 - so there's no rush to assume a reversal.
The volume of the pump on March 2 on the 4H was 327.2M, after which the volume decreased on each candle, and the current 4H activity is about 230.38M - a classic sign of distribution.
On the 1H, the price briefly went below $0.03800 on March 6 and then there was a sharp recovery, meaning buyers were present at that level.
The most important point: the 4H FVG + OB zone $0.038 – $0.042 is still intact. As long as it doesn't break clearly, the structure won't be considered technically broken.
Trade Levels:
Resistance: $0.04500 (if the daily closes above, momentum could change)
Support: $0.03800 (has held twice)
If $0.038 breaks, next support: $0.03500
My plan is clear: I am watching the weekly candle's close this week, not taking any new entry. What plan have you made for this week?
This is not financial advice. Please do your own research.
